Exhibit 12

NATIONWIDE FINANCIAL SERVICES, INC. AND SUBSIDIARIES

Statement Regarding Computation of Earnings
to Fixed Charges

(in millions)



|                                                                                                 |  |                          |         |      |   |         |  |      |         |      |   |         |  |   |        
|------------------------------------------------------------------------------------------------ |  | ------------------------ | ------- | ---- | - | ------- |  | ---- | ------- | ---- | - | ------- |  | - | -------
|                                                                                                 |  | Years ended December 31,
|                                                                                                 |  | 2007                     |         | 2006 |   | 2005    |  | 2004 |         | 2003
|Earnings:                                                                                        |  |                          |         |      |   |         |  |      |         |      |   |         |  |   |        
|Income from continuing operations before federal income tax expense                              |  | $                        | 800.4   |      | $ | 799.3   |  | $    | 780.4   |      | $ | 700.5   |  | $ | 542.6  
|Fixed charges                                                                                    |  |                          | 1,462.8 |      |   | 1,484.6 |  |      | 1,510.2 |      |   | 1,430.7 |  |   | 1,463.4
|                                                                                                 |  |                          |         |      |   |         |  |      |         |      |   |         |  |   |        
|                                                                                                 |  | $                        | 2,263.2 |      | $ | 2,283.9 |  | $    | 2,290.6 |      | $ | 2,131.2 |  | $ | 2,006.0
|                                                                                                 |  |                          |         |      |   |         |  |      |         |      |   |         |  |   |        
|Fixed Charges:                                                                                   |  |                          |         |      |   |         |  |      |         |      |   |         |  |   |        
|Interest credited to policyholder account balances                                               |  | $                        | 1,342.0 |      | $ | 1,381.5 |  | $    | 1,380.9 |      | $ | 1,328.3 |  | $ | 1,367.6
|Interest on debt                                                                                 |  |                          | 110.6   |      |   | 103.1   |  |      | 107.6   |      |   | 102.4   |  |   | 95.8   
|Debt extinguishment costs                                                                        |  |                          | 10.2    |      |   |         |  |      | 21.7    |      |   |        |  |   |       
|                                                                                                 |  |                          |         |      |   |         |  |      |         |      |   |         |  |   |        
|                                                                                                 |  | $                        | 1,462.8 |      | $ | 1,484.6 |  | $    | 1,510.2 |      | $ | 1,430.7 |  | $ | 1,463.4
|                                                                                                 |  |                          |         |      |   |         |  |      |         |      |   |         |  |   |        
|Ratio of earnings to fixed charges                                                               |  |                          | 1.5     |      |   | 1.5     |  |      | 1.5     |      |   | 1.5     |  |   | 1.4    
|                                                                                                 |  |                          |         |      |  
|Ratio of earnings to fixed charges, excluding interest credited to policyholder account balances |  |                          | 7.6     |      |   | 8.8     |  |      | 7.0     |      |   | 7.8     |  |   | 6.7